Ethereum

Ethereum 2.0

Bitcoin

<div class="finbold">
 <p class="paragraph">The weight that Bitcoin (BTC) carries in the cryptocurrency world is not to be underestimated, as its performance usually dictates the broader market. With Ethereum (ETH) next in line, it is logical that it is the first one to benefit or slump from BTC’s events.</p>
 <p class="paragraph">After the SEC approved BTC exchange-traded funds (ETF) in January, sights are already set toward the next notable event, Bitcoin <a rel="noopener noreferrer nofollow" title="halving" href="https://thebittimes.com/tag/halving.html">halving</a>, which is set to take place in mid-April 2024.&nbsp;</p>
 <p class="paragraph">This week was notable for Ethereum as it surpassed its resistance zone set at $2,800 and is currently trading at $2,835 after gains that have seen its value increase by 1.48% on daily and 13.67% on weekly charts.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="683" src="https://cdn.thebittimes.com/images/2024/02/16/6be253ce664fa1bf0863a4d93cd6ba49.webp" alt="ETH 7-day price chart. Source: Finbold" class="wp-image-155436" srcset="https://cdn.thebittimes.com/images/2024/02/16/6be253ce664fa1bf0863a4d93cd6ba49.webp 1024w, https://cdn.thebittimes.com/images/2024/02/16/6be253ce664fa1bf0863a4d93cd6ba49.webp 300w, https://cdn.thebittimes.com/images/2024/02/16/6be253ce664fa1bf0863a4d93cd6ba49.webp 768w, https://cdn.thebittimes.com/images/2024/02/16/6be253ce664fa1bf0863a4d93cd6ba49.webp 1200w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   ETH 7-day price chart. Source: Finbold
  </figcaption>
 </figure>
 <p class="paragraph">In its pursuit of insights, Finbold opted to seek counsel from OpenAI’s premier platform, ChatGPT, regarding the potential trajectory of the world’s leading altcoin as the <a rel="noopener noreferrer nofollow" title="halving" href="https://thebittimes.com/tag/halving.html">halving</a> event unfolds.</p>
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 <h2 class="wp-block-heading" id="h-chatgpt-makes-a-prediction-on-the-ethereum">ChatGPT makes a prediction on the Ethereum</h2>
 <p class="paragraph">Although ChatGPT didn’t provide a precise figure, it’s rational to anticipate some <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> fluctuation for Ethereum in light of the historical correlation between Bitcoin and Ethereum <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a>s.&nbsp;</p>
 <p class="paragraph">Nevertheless, factors like Ethereum’s ongoing development, expanding usage in decentralized finance (DeFi), and forthcoming upgrades like Ethereum 2.0 suggest a broader context beyond mere volatility.</p>
 <p class="paragraph">However, considering historical movements, the most likely <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> range was from $8,000 to $12,000.</p>
 <figure class="wp-block-image size-full"><img decoding="async" width="612" height="45" src="https://cdn.thebittimes.com/images/2024/02/16/d5c7d6f4d7bcdccf393a8048570c65b3.webp" alt="The most likely price range for ETH after BTC halving. Source: Finbold and ChatGPT" class="wp-image-155437" srcset="https://cdn.thebittimes.com/images/2024/02/16/d5c7d6f4d7bcdccf393a8048570c65b3.webp 612w, https://cdn.thebittimes.com/images/2024/02/16/d5c7d6f4d7bcdccf393a8048570c65b3.webp 300w" sizes="(max-width: 612px) 100vw, 612px">
  <figcaption class="wp-element-caption">
   The most likely price range for ETH after BTC halving. Source: Finbold and ChatGPT
  </figcaption>
 </figure>
 <p class="paragraph">This range derives from Ethereum’s past price trends, its prominent status as the foremost smart contract platform, and the overall expansion path of the cryptocurrency market.</p>
 <h2 class="wp-block-heading" id="bullish-scenario">Bullish scenario</h2>
 <p class="paragraph">In an optimistic scenario, Ethereum might witness notable price escalation fueled by heightened institutional investment, widespread adoption of decentralized applications (dApps), and the successful execution of Ethereum 2.0 upgrades, resulting in enhanced scalability and reduced transaction fees.&nbsp;</p>
 <p class="paragraph">This could drive ETH’s <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> toward the upper range from $15,000 to $20,000.</p>
 <figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="605" height="86" src="https://cdn.thebittimes.com/images/2024/02/16/6e3512b3a8299929adb085be8940859c.webp" alt="Bullish scenario for ETH. Source: Finbold and ChatGPT" class="wp-image-155438" srcset="https://cdn.thebittimes.com/images/2024/02/16/6e3512b3a8299929adb085be8940859c.webp 605w, https://cdn.thebittimes.com/images/2024/02/16/6e3512b3a8299929adb085be8940859c.webp 300w" sizes="(max-width: 605px) 100vw, 605px">
  <figcaption class="wp-element-caption">
   Bullish scenario for ETH. Source: Finbold and ChatGPT
  </figcaption>
 </figure>
 <p class="paragraph">This scenario also considers the broader upsurge in the cryptocurrency market driven by favorable regulatory changes or macroeconomic instability.</p>
 <h2 class="wp-block-heading" id="bearish-scenario">Bearish scenario</h2>
 <p class="paragraph">Conversely, in a pessimistic scenario, external factors like regulatory crackdowns, vulnerabilities in smart contracts, or scalability hurdles associated with Ethereum 2.0 could erode investor trust and trigger a wave of selling.</p>
 <p class="paragraph">Which would, in turn, lower the predicted range from $5,000 to $7,000.</p>
 <figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="597" height="85" src="https://cdn.thebittimes.com/images/2024/02/16/a3fdda49160935c3a2583cff4d33d724.webp" alt="Bearish scenario for ETH. Source: Finbold and ChatGPT" class="wp-image-155439" srcset="https://cdn.thebittimes.com/images/2024/02/16/a3fdda49160935c3a2583cff4d33d724.webp 597w, https://cdn.thebittimes.com/images/2024/02/16/a3fdda49160935c3a2583cff4d33d724.webp 300w" sizes="(max-width: 597px) 100vw, 597px">
  <figcaption class="wp-element-caption">
   Bearish scenario for ETH. Source: Finbold and ChatGPT
  </figcaption>
 </figure>
 <p class="paragraph">Furthermore, should there be a general downturn in the market or a substantial drop in Bitcoin’s price following the halving, Ethereum could face increased selling pressure.</p>
 <p class="paragraph">Interestingly, across all projected scenarios, the price of ETH is anticipated to rise by at least 50% in the least favorable scenario and potentially soar by over 600% in the most optimistic outlook.</p>
 <p class="paragraph">However, it’s crucial to remember that these are merely forecasts, and numerous variables from the broader market, which can be exceptionally volatile, must be considered.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/we-asked-chatgpt-what-will-be-ethereum-price-after-2024-bitcoin-halving-tbt80013.html">https://thebittimes.com/we-asked-chatgpt-what-will-be-ethereum-price-after-2024-bitcoin-halving-tbt80013.html</a></p>

We asked ChatGPT what will be Ethereum price after 2024 Bitcoin halving

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